HomeMy WebLinkAbout01075the balance of such gross revenues thereafter rei-aini.ng may be
insufficient to pay the cost of maintaining and operating said
system and said additions, betterments and extensions.
The City of Port Townsend further binds itself to es-
tablish from time to time and maintain such rates for crater as
will provide sufficient revenues to permit the payment into such
special fund of the said sums which the city has pledged to be
set aside for the payment of interest, and principal and interest,
as provided in said ordinance, to be applied to the payment of
principal and interest of the bonds authorized by said ordinance,
until such bonds have been paid in full.
This bond.is one of an issue of bonds not exceeding Six
Hundred. Thousand (4600,000.00) Dollars, known as "Municipal Plater
Works Extension Bonds, 1927," issued or to be issued by the City
of ??ort Townsend under the authority of the laws and Constitution
of Washington, and, particularly Chapter 150 of the laws of Washing-
ton, 1909, as amended, for the purpose of providing funds for
additions and betterments to, and extensions of, the municipal
water works system of said city, and this bond has been issued in
full compliance of said laws and Constitution.
This bond is subject to registration as to principals"or as
to both principal and interest, in accordance with the provisions en-
dorsed. hereon.
It is hereby certified and recited that all acts, condi-
tions and things required to be done precedent to, and in the issuance
of this bond have happened, been done and performed as required by law.
IN WITNESS WHEREOF, the said City of Port Townsend, by
authority of its City Council, has caused this bond to be sealed
with its seal, signed by its mayor and attested by its City Clerk,
and has caused the coupons annexed hereto to be signed with a
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